TIDMINNO 
 
28 October 2010 
 
                                 INNOVISE PLC 
 
                         ("Innovise" or the "Company") 
 
          Innovise acquires software division of Expolink Europe Ltd 
 
Innovise plc, the AIM-quoted software solutions and IT services provider, is 
pleased to announce that it has agreed to acquire the software division of 
Expolink Europe Ltd for a total consideration of GBP810,000 in cash assuming zero 
net assets on completion. 
 
Based in Chippenham, Wiltshire, Expolink Software was founded over 10 years ago 
and competes with Innovise in the facilities management, transport and NHS 
markets. The division has a portfolio of products led by its Maximiser solution 
for quality monitoring and is a specialist in applications using mobile devices 
for data collection. 
 
Mike Taylor, CEO of Innovise, said: "Expolink Software has been a highly 
respected and successful competitor for many years, with a large and loyal 
customer base, excellent products and a great team. I am delighted that we will 
be able to combine the products and talent within our businesses to better 
serve our joint customer base. I am confident the expanded business will enable 
us to generate sustainable long-term growth through continued innovation in our 
chosen niche markets." 
 
David Crook, Chairman of Expolink Europe , said: "Our software division has 
grown steadily over the years but has reached a stage where more focus is 
required to fulfil its potential. I am delighted to see the business move 
forward under Innovise's ownership and have every confidence in its future 
success." 
 
For the year to April 2010, Expolink's software division reported sales of 
almost GBP900,000. Innovise will fund the acquisition through a GBP500,000 loan 
note and operational cash flow. The Board of Innovise expect the acquisition to 
be at least earnings neutral in the current financial year and earnings 
enhancing thereafter. 
 
Completion of the acquisition is expected to take place on or before 10 
November 2010. 
 
In addition to its software division, Expolink Europe Ltd has call centre and 
whistleblowing hotline businesses which are not part of this transaction. 
 
For further information contact: 
 
Mike Taylor 
 
Chief Executive, Innovise plc 087 0626 0400 
 
Tony Edwards 
 
Finance Director, Innovise plc 0870626 0400 
 
Edward Hutton 
 
Nominated Adviser, Astaire Securities Plc 020 7492 4750 
 
Ian Foster 
 
Shareholder Relations, Wordsworth Communication Ltd 077 3918 5050 
 
 
 
END
Innovise (LSE:INNO)
Historical Stock Chart
From Apr 2024 to May 2024 Click Here for more Innovise Charts.
Innovise (LSE:INNO)
Historical Stock Chart
From May 2023 to May 2024 Click Here for more Innovise Charts.